NY Times: Apple Legally Sidesteps Billions in Taxes

A new report says Apple Inc. uses subsidiaries in Ireland, the Netherlands and other low-tax nations as part of a strategy that enables the technology giant to cut its global tax bill by billions of dollars every year.

A New York Times article published Sunday outlines legal methods used by Cupertino, Calif.-based Apple to avoid paying millions of dollars in federal and state taxes.

It cites a study by a former Treasury Department economist that estimates Apple's federal tax bill would have been $2.4 billion higher last year without such tactics.